The Business Times, 6 March 1982
1982-03-06
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The Business Times
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Title Section11 1982-03-06 1 BUSINESS TIMES M.C.(P) No. 93/1/82 SATURDAY, MARCH I, 1182 60 CENTS11 words
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Budget Highlights
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Article50 1982-03-06 1 EXEMPTION for residential properties from estate duty will be revised to include the full value of any one residential property from April 1. This means that the exemption limit on residential properties will be $600,000 or the full value of any one residential property, whichever is higher.50 words
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Article58 1982-03-06 1 ALL savings with the Central Provident Fund will be exempted from estate duty from April 1. This will not include amounts withdrawn under approved schemes and not refunded to the CPF. However, if the balance exceeds $100,000, no further exemption will be given for other assets, except58 words
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Article27 1982-03-06 1 GOLD deposits held by foreigners, who are neither resident nor domiciled in Singapore, will not be liable to estate duty from April 1.27 words
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Article47 1982-03-06 1 ALL employees' contributions to CPF and designated approved pension and provident funds will be fully tax deductible from the 1983 assessment year. If a taxpayer's contributions do not exceed $5,000 he is allowed to include life insurance premiums to make up the maximum of $5,000.47 words
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Article54 1982-03-06 1 RELIEF for aged dependants will be raised from $750 to $1,000 per aged parent or grandparent living with the taxpayer, subject to a maximum of two, from the 1963 assessment year. The dependant must not have an income greater than $1,500 a year. This figure is twice54 words
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Article56 1982-03-06 1 FIXED charges in PUB bills will not be included for calculating the 10 per cent tax charge. The tax will only be imposed on the total charges for the electricity, gas and water consumed and the water-borne fee. The tax will remain at 10 per cent of56 words
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Article28 1982-03-06 1 ACU offshore loan agreements which were signed before April 1, 1980 will not attract ad valorem stamp duty when repatriated to Singapore from April 1,1982.28 words
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Article54 1982-03-06 1 ROAD tax on buses with passenger capacity of more than 46 will be $5,500 per bus. This means a reduction of $1,000 per bus for Singapore Bus Service buses, all of which have a capacity of more than 46 and which have been taxed at a54 words
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Article33 1982-03-06 1 CAPITAL allowances for company registered cars will be raised from $25,000 to $35,000 from April 1. This is to bring the allowance more in line with the current prices of cars.33 words
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Article37 1982-03-06 1 TAX concessions for the leasing industry. These include allowing accelerated depreciation to the lessor on equipment leased to a lessee who would be eligible for the accelerated depreciation had he purchased the equipment himself.37 words
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Article40 1982-03-06 1 UPWARD revision of pensions for all locally domiciled government pensioners. However, the revision is for those who draw less than $850 a month in pension. The revision will benefit 97 per cent of the 7,685 locally domiciled pensioners.40 words
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Article606 1982-03-06 1 ZHOU MEI - By ZHOU MEI DR TONY TAN'S budget speech for fiscal year 1962-83, presented to Parliament yesterday, was one marked by a mixture of caution over tough times ahead and optimism over Singapore's ability to weather the storm. There was relief for the individual taxpayer over PUB606 words
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423 1982-03-06 1 BERNADETTE CHOOI - By BERNADETTE CHOOI INDUSTRIAL development will be more difficult this year, warned the Minister for Trade and Industry, Dr Tony Tan, in his budget statement yesterday. As recessionary conditions in the world economy are expected to continue into 1962, companies face the prospect of423 words
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Article389 1982-03-06 1 LEASING, a long neglected branch of the financial industry here, came into the forefront yesterday as Dr Tony Tan singled it out for one of the best concessions of the year. The only drawback was that he did not clear the uncertainty regarding the fixing of the389 words
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BRIEFLY...
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Article24 1982-03-06 1 The Development Bank of Singapore will reduce its prime rate by half a percentage point to 9.25 per cent from Monday24 words
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Article55 1982-03-06 1 UPI LONDON, Fri. The {Mice of gold plummeted today to US$337 an ounce, the lowest rate in years. The dollar dropped against most currencies, except the pound. Gold opened at $337 an ounce, the lowest since prices set record lows in September 1979. Thursday's closing on theUPI - 55 words
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Article74 1982-03-06 1 Reuter LONDON, Fri. Opec oil ministers are about to hold talks on the world glut in one of the Gulf capitals and, if they can agree on coordinated action, will move to a formal Opec conference in Geneva. It is believed that some Opec ministers are headedReuter - 74 words
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Article68 1982-03-06 1 Reuter KUALA LUMPUR, Fri. Natural rubber producers and consumers today agreed to extend the deadline for the ratification of the International Natural Rubber Agreement (Inra) until April 15. Delegates at a special session of the Inra Council said they are confident the required 80 per cent of bothReuter - 68 words
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Article52 1982-03-06 1 Reuter TOKYO, Fri. The Finance Ministry is planning to tax proceeds from investment in zero-coupon bonds in or after fiscal 1983. The ministry yesterday banned the sale of the bonds to Japanese investors in order to curb the large capital outflows from Japan to the US and EECReuter - 52 words
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Article59 1982-03-06 1 AP w WASHINGTON, Fri. The United States expects Japan to make budget sacrifices to increase its own defence potential and to meet the Soviet threat in Asia. Albert Seligman, director of the Office of Japanese Affairs in the State Department, said Japan must use its own resources toAP - 59 words
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Article66 1982-03-06 1 Reuter KUALA LUMPUR, Fri. A Japanese consortium led by Nippon Steel and the Heavy Industries Corporation of Malaysia (Hicom) signed an agreement to build a US$36O million sponge iron plant in Trengganu. Hicom chairman Tan Sri Jamil Jan said Ms64o million of the total cost will beReuter - 66 words
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Article68 1982-03-06 1 AP LONDON, Fri. Sir Freddie Laker, who travelled free from the US this week while stranded passengers of Laker Airways paid extra for the same flight, has been stripped of his right to courtesy tickets. British Airways said it is withdrawing the privilege accorded to allAP - 68 words
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Article35 1982-03-06 1 AFP NEW DELHI, Fri. Encouraged by last year's performance, the Apparels Export Promotion Council of India has raised its export target of garments for the current year to a much higher US$B33 million.-AFPAFP - 35 words
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146 1982-03-06 1 ECONOMISTS wetoamed the bedget St s realistic aad rati»—l strategy to mmvage iavestmeat aader times «f wsrld etMMmk ■■certainties. Dr Haak lim, secretary sf the Er—mir Saclety at Wags pre, described the badget as a "aeat strategy to reatraetare the eeeaemy to make It mare resUieat146 words
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Article289 1982-03-06 1 THE business community generally welcomed the positive measures outlined in the Budget though some sectors were disappointed that it did not offer new incentives to promote exports. Mr Wee Chow Yaw, president of the Singapore Federation of Chambers of Commerce and Industry, said the chamber is disappointed289 words
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Page 1 Advertisements
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Advertisement256 1982-03-06 1 Hit) X-* l'i) Times MANUFACTURERS Hanover Trust Company is expanding the scope of its regional processing centre in Singapore to cover transactions with banks throughout South-east Asia Page 2 THERE are few bull points to halt the current decline in the price of gold Page 2 A RESEARCH and development256 words
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Advertisement52 1982-03-06 1 Worldwide management experience at your fingertips. Exe^irt' The compact monthly magazine offering selected condensations of management articles and books from all over the world. World Executive's Digest Now available at all bookshops, emporiums news-stands. Distributed by RTTI FEDERAL PUBLICATIONS I I*l New ndu,tria Road, Singapore 1953 A member of the52 words
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Advertisement16 1982-03-06 1 BUDGET INDEX Raising the money I Spending the money Pag The budget speech Editorial comment I16 words
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Advertisement29 1982-03-06 1 fc=". BUDGET SPECIAL FOUR PAGE PULL-OUT INSIDE A xA *?&rj d> A o °w <$* «*V s cT *\V f& m-,,:<■ to Agwyt EXCELSIOR (PTE) LTD. High Street, Singapore 0617.29 words
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BANKING AND FINANCE
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399 1982-03-06 2 LEE YOKE MENG - By LEE YOKE MENG MANUFACTURERS Hanover Trust Co (MHT) is expanding the scope of its regional processing centre in Singapore to cover transactions with banks throughout South-east Asia. The move is also but one in a planned series of regional processing centres399 words
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Article118 1982-03-06 2 CHINA'S foreign exchange reserves rose to U554.77 billion at the end of 1981 from $3.82 billion at the end of the third quarter, the New China News Agency (NCNA) said on Thursday. Gold reserves fell one per cent to 12.67 million troy ounces. It was the118 words
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Article503 1982-03-06 2 Reuter THERE are few bull points in the gold market to halt the current decline in price to 2Vi year lows, bullion dealers and analysts said. Gold fell to its lowest fixing since September, 1979, at an afternoon setting on Thursday of U*****.50 anReuter - 503 words
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Article547 1982-03-06 2 Reuter THE US Treasury may be forced to cancel or delay an auction of 20-year bonds scheduled for late this month, officials in New York and Washington said. Congressional officials and bond market analysts in New York said congressional resistance to a Treasury bid to abolish a ceilingReuter - 547 words
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274 1982-03-06 2 Reuter UNION BANK sf Swttserlaad will make M capital Increase in IK hecaase It has mmegh latitat la its ha Isare sheet caver, haak prtaidcat Nlkalaas Beaa said. The haak still has ta reserve the passihOltji sf Issuing w hsrdlasli 4 Isaas, whichReuter - 274 words
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106 1982-03-06 2 BEST Denki's US$l5 million convertible bond, maturing in 15 years, will carry a fixed exchange rate of 238.45 yen to each US dollar. Lead manager Nikko Securities said the conversion price of the bond is being set at 1,505 yen per share of common106 words
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Article82 1982-03-06 2 CITIBANK lowers its prime lending rate in Singapore by half a percentage point to 9.5 per cent. The reduction, effective from today, is also accompanied by a 0.25 to 0.75 percentage point fall in deposit rates. The new rates are: 6.5 per cent for three-month fixed82 words
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Article669 1982-03-06 2 THE European Investment Bank (EIB) has launched a US$l5O million, seven-year bond issue with a 15 Vi per cent coupon and a par issue price. The bonds, of a nominal value of $10,000, are redeemable at par in two equal amounts of 15,000 in March 1985 and669 words
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Article229 1982-03-06 2 CHEQUES encoded with magnetic ink character recognition (MICE) for automated clearing, starting in September, can be folded. However, it should not be severely creased as the MICR may be distorted beyond recognition by the computer. To prove this point, Banking Computer Services (BCS) sent 200229 words
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Article156 1982-03-06 2 Reuter A POUR Mia— traae demestle bead laaached tkk week by Electric!te de Fraaee (EDF) has —red the Preach bead market aad caased twa laser» ached lied far next week to be peetpeaed, primary deaieetle bead market afficUls said. A SM mllH— traae bead frem Baaqae deReuter - 156 words
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MONEY AND EXCHANGES
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Article231 1982-03-06 2 SINGAPORE gold futures yesterday closed sharply lower compared with overnight levels, reflecting a decline in overseas gold markets, dealers said. Trading was moderate with total sales (or the day, including kerb volume, recorded at 473 lots. Prompt closed sharply weaker at U*****/341 an ounce compared with 352/ £4 on231 words
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Article36 1982-03-06 2 New York 7«B 7 MB 7.SSS 7.71S Zurich 7.52B 7 6TB 70S 7.77S PM nui Singapore 7.«B 7 5KB 7.S6S 7 7K CVatagprfc -ta In US dollar* troy oune r. Source: Credit Suisse, S'pore.36 words
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Article50 1982-03-06 2 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Mar 8 to Mar 12: Offered: $150,000,000 Applied for: 1201,200.000. Alleged: $150,000,000. Accepted Mds: $99.25, approximately 7 per cent higher bids in full. Average rate ti dlseeut m alletmeat: 2.690 per cent per annum.50 words
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Article113 1982-03-06 2 THE dollar in London yesterday opened steady in quiet conditions although at lower levels after easing in the Far East overnight. The dollar opened at 235.20/40 yen, up from its close in Tokyo at 234.45 but down from Thursday s close in London at 236.60/75 yen. Dealers said the113 words
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Article209 1982-03-06 2 THE US dollar In Hongkong yesterday ruled narrowly mixed against major currencies, with trading cautious on expectations of a decline in US money supply M-l due out later yesterday, dealers said. The US unit edged up to 2.3475/85 marks against an early 2.3470/80, still below New York's 2.3535/50 close,209 words
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Article120 1982-03-06 2 THE dollar for overnight delivery in Tokyo yesterday closed weaker at 234.45 yen after a 234.90 opening. This was also lower than the 234.85/235.00 close in both New York and on the US West Coast overnight and the 235.80 close in Tokyo on Thursday. Trading was moderate on a120 words
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Article22 1982-03-06 2 THE average rate at which major Singapore banka are currently prepared to lend to their beat customers is 9.98 per cent.22 words
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Article177 1982-03-06 2 ASIAN ASIAN currency deposit Interbank rates as at close on Mar 5: US D*Uan<8a*t) Offer Bid 7 days 14 8/16 14 7/16 1 month 14* 14* 2 months 14 0/16 14 7/16 3 months 14* 14* 6 months 14* 14* 0 months 14* 14* 12 months 14* 14* Das. 8wM177 words
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Article44 1982-03-06 2 RANGE of pric Oflfef ■ed by diacount I—I on Mar S: Overnight: 3% Call deposits 3% Cko*ta« 3-month B.yia« SeUiac Treasury bills 2W SM 3-month Bank bills 7V* 7H 3 months CD 7Vt 7* 6 months CD 7* 7H Source: National Discount Co44 words
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Article499 1982-03-06 2 TRADING was active but erratic on the foreign exchange market yesterday with the American dollar falling sharply in the morning and rebounding strongly later in the day. It closed firmer against most major currencies except for the Singapore dollar. The US dollar opened at 552.1070/80 against the local499 words
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Page 2 Advertisements
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Advertisement148 1982-03-06 2 %f3\te n r* C£. v*fc Z. y/ys/drss. ,-M, iPir THE POOL FAB FULLY AUTOMATED POOL! 10.2 x 4.5 metre pool built-in breakfast bar automatic chlorination automatic cleaning all yours for just $58,000 including $8,000 worth of automatic equipment FREE And the Pool Fab system is superbly designed! Well-tried and tested148 words
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Advertisement199 1982-03-06 2 SL MARINA CENTRE DEVELOPMENT PTE LTD SLMCD is currently engaged in the development of the Marina Centre Project which, when completed, will comprise 3 luxury hotels, a large retail complex including 4 department stores, parking space for 2600 cars and various ancillary facilities. In line with its current and future199 words
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TRADE AND INDUSTRY
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537 1982-03-06 3 THE Singapore Bus Service (SBS) will have at most two other bus companies competing to operate full-time bus services. This was revealed by the Minister for Communications, Mr Ong Teng Cheong, in Parliament yesterday. He also said his ministry will not prevent537 words
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365 1982-03-06 3 THE HOUSING and Development Board is looking into more ways of mechanising building procedures so that Oats can be built quicker and with fewer labourers. The Minister of State for National Development, Mr Lee Yock Suan, said in Parliament yesterday that the365 words
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Article740 1982-03-06 3 SEMINARS AND COURSES March 1-May -6: Certificate in Computer Programming Part I COBOL Programming, NPB, NPB March 6, 13, 20: The Secretary in Management Today, SIM Conference Room, SIM March 6-May 22 (Saturdays): BASIC programming for Beginners, Waterloo Centre, Department of Extramural Studies, NUS March 7-11: Internationa] Federation740 words
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359 1982-03-06 3 At least 50 lines of businesses in Singapore can be successfully franchised. Mr Howard Bellin of International Franchising, a franchising consultant company in Australia, said there is no need to pay for a foreign franchise when a local franchise can be developed. Mr Bellin is359 words
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486 1982-03-06 3 RICHARD SEAH - By RICHARD SEAH A RESEARCH and development base for chainsaws and agricultural equipment for use in developing countries may soon be set up in Singapore. Kioritz Corporation, Japan's top manufacturer of the equipment, is already working on some new products with its local agents, Spotradio486 words
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Article, Illustration396 1982-03-06 3 THE Ngo Hock group, which recently took over the franchise of Renault cars from Champion Motors, is investing more than $4-5 million in a new automobile complex. The three-storey Ngo Hock Auto complex, to be located at Yew Tee Industrial, off Woodlands Road, will occupy about396 words
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314 1982-03-06 3 ELECTRONIC Data Systems (EDS), the sole agent for Wang computers, is offering a new software package, SPEED 13, which promises a saving of up to 80 per cent in time when writing programmes. EDS uses the turn-key approach when dealing with its customers. It314 words
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Article243 1982-03-06 3 HSICHELSohne has appointed Ricbe Monde in Singapore and Malaysia as sole distributors (or the Sicbel range of wines. The range includes Blue Nun Uebfraumilch, the wellestablished and popular brand which has had rapid sales and is now the largest selling wine in the area. SEEING is believing. That243 words
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323 1982-03-06 3 YAOHAN Singapore to investing about US million in a new «tore at Partway Parade, a new Stopping cum-offlre caanpftn to be built at Marts» Parade The company has yet to decide 11 it wtil maintain two stores in the Katong area.323 words
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271 1982-03-06 3 THE over-crowded travel agent market will soon face sharper competition with the entry of Carrian Travel Services, the travel arm of the powerful Carrian group. Its entry into the travel market is the group's second area of operations in the Republic. Its first foray271 words
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Page 3 Advertisements
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Advertisement247 1982-03-06 3 See it atthe MSAI9B2 Seminar series Cut costs; increase efficiency; improve cash flow; maximise profits the MSA way. Proven, easy-to-use. General Ledger, Financial Forecasting Modeling, Fixed Assets Accounting, Accounts Payable, Accounts Receivable, Inventory Control Purchasing, Personnel/Payroll Management Reporting. Online Application Software featuring Easy-screen® User-friendly online screen generator. Gives freedom in247 words
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OVERSEAS
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470 1982-03-06 4 Reuter UK CHANCELLOR of the Exchequer Geoffrey Howe still has scope for a modest "give-away" budget, mainly for industry, in spite of a fall in North Sea oil revenues, government officials said. His main aim remains to encourage economic recovery by cutting theReuter - 470 words
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165 1982-03-06 4 LABOUR ministers from the main non-communist developed countries have agreed that measures must be taken to ease an alarming rise in unemployment in the Western world, but they differed sharply on the approach to use. Meeting at the Paris headquarters of the Organisation165 words
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Article, Illustration489 1982-03-06 4 ARRIVALS KEPPEL Boleslaw Ruminski (1100 hauls 70m West (at K.W. request) 35/36 Foochow (0700 shifts (at K.W. rquest) »/30 Merian (0900 after Taronga shifts) 46 Niaga XXI (0700) 27 Nan Ping Shan (hauls after Boleslaw Ruminski hauls) (at K.W. request) 38/39 Boleslaw Ruminski (1100 hauls 70m West489 words
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780 1982-03-06 4 AP THE rate of economic growth in the Association of South-east Asian Nations is the fastest in the world. "Constantly rising per capita income offers a rapidly expanding market," the US Commerce Department said in a special report on Thursday. "Today, the market ofAP - 780 words
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123 1982-03-06 4 AFP MITSUI Engineering and Shipbuilding Company, Japan's leading shipbuilder, will help Indonesia and Malaysia build large ships and tankers. Indonesia's PAL Shipyard, owned by the Ministry of Research and Technology, can only build ships up to 600 dwt ton, but the ministry wantsAFP - 123 words
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506 1982-03-06 4 AP THE MANAGING director of the International Monetary Fund, Mr Jacques de Larosiere, has called for bold and determined policies by the industrial and developing countries to restore the health and dynamism of the world economy. The call was made in a speechAP - 506 words
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410 1982-03-06 4 AP THE UNITED States may well face a record foreign trade deficit this year and worse trouble ahead if current trends continue The warning was given by Commerce Secretary Malcolm Baldrige in a speech prepared for delivery to the Foreign Policy Association in NewAP - 410 words
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WORLD IN BRIEF
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Article506 1982-03-06 4 Agencies CHINA and the United States yesterday signed a tax exemption agreement for shipping and air transport. The agreement provides mutual exemption from taxation of the income earned by shipping and air transport enterprises. US Ambassador Arthur W Hummel and Minister of Finance Wang Bingqiang signedAgencies - 506 words
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Article278 1982-03-06 4 Reuter POLAND iMtter reprieve tram a greap «I later- hub m Tbarsday •Iter telliag them It sbeeld be able to make laterest pavmeits estimated at UB$M to W mllliM by tbe ead tt the meatb. A spakesmaa far West Germaay'» Dresdaer Baak said aReuter - 278 words
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550 1982-03-06 4 NYT AMERICAN officials are becoming increasingly fearful that a sizeable Israeli assault of southern Lebanon is virtually certain. Several weeks ago Prime Minister Menachem Begin assured President Reagan that Israel would not attack unless there is a "clear provocation." But theNYT - 550 words
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Article767 1982-03-06 4 1 ARRIVALS Service Local Operator Number Tine From AI AI411 0005 SYD/PER S1A SQI1 0025 LAX/TYO PAA PA005 0220 NYCSFO AHA/HKG CAL CI333 0220 TPE/HKG Cargolux CV796 MAS MH601 0415 0700 LUX/DXB KUL SU SQ101 0845 KUL MAS MH811 0845 PEN MAS MH671 0915 KUL RBA Bid767 words
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BUDGET 1982
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Article, Illustration1279 1982-03-06 5 LEE YOKE MENG - Revenue By LEE YOKE MENG SAY WHAT you may about the advantages of a big screen, an excellent cast and a good production, but the growth of home video entertainment is likely to hand a fairly hard blow to cinema owners here. Official revenue1,279 words
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Article, Illustration1217 1982-03-06 5 Education spending will rise sharply, by $425.9 million, and industrial and commercial development will get an extra $258.4 million, most of it earmarked as additional loan facilities for Jurong Town Corporation, DBS, PCS and the Ship Financing Scheme, plus higher payments under the Fixed Rate Export Financing Scheme.BT Chart by Alan Chan - 1,217 words
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661 1982-03-06 6 THERE ARE TWO kinds of budgets. There are budgets which set off fireworks and seek to make major reforms in society and there are those which seek not to make significant changes and instead try to keep an economy on an even keel. Singapore's661 words
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Article638 1982-03-06 6 AS DR GOH KENG SWEE sat listening to the budget speech in parliament yesterday, his mind may well have flitted back to a day in late November of 1959 the day he rose to present the budget for fiscal 1960, the first full year after638 words
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Article, Illustration300 1982-03-06 6 Development A SHARP rise in outlays for public housing will push up the National Development Ministry's needs by some 48.4 per cent to $3.15 billion, well above the average annual growth rate of 28 per cent during '78 to '81. The ministry's outlays as a300 words
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Article527 1982-03-06 6 r Finance 4 FINANCE Ministries invariably reveal themselves as the biggest of the big spenders and Singapore's is no exception. The other trait they share worldwide is that their development spending accounts (or an overwhelmingly high proportion of the total. In fiscal '82, Finance will527 words
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Article, Illustration330 1982-03-06 6 r Trade and Industry THE STATUS of the Trade and Industry Ministry has increased rapidly over the past few years as Singapore broadened its economic base to avoid the pitfalls of having all its eggs in one basket. So it is fitting in more than one senseBT CHART BY - 330 words
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Article182 1982-03-06 7 THE GOVERNMENT expect» a total expeadltsre eattara far last fiscal year •f $7.11 ktlltea, slightly UNtor li per eeat abeve the kadgetted figsre. The laerease is malaly provlpayments lata the alaldag vkle aplHt > 'htan Jebt requirement*. Meet departmeats either met er kept well wtthia their target182 words
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437 1982-03-06 7 Labour THE IMPORTANCE of management-labour relations and improved productivity is reflected in the Labour Ministry's estimated spending for fiscal '82, which is 40 per cent above the previous year at 121.22 million. More than 99 per cent of this is recurrent expenditure, with only $40,000437 words
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Article147 1982-03-06 7 DEFENCE SPENDING will rtoe 13.5 per cent to $1.7 bilHon, tally S per ceat under the avenge growth rate for *****161. Aad the Defence Ministry's share «I tetal government spending has fallen (rem 18.1 per eeat in fiscal 1178 to 15.1 per cent in 1161 and a projected 15.7147 words
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Article155 1982-03-06 7 MAJOR re-organisation programmes account for most of the Home Affairs estimated spending increase of 23.2 per cent to a total of 1315.7 million in fiscal '82. Ministry, police, national service command and the Gurkha Regiment are all having their headquarters re-organised while the ministry's computerisation programme also contributes155 words
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Article160 1982-03-06 7 THE Foreign Affairs Ministry (MFA) expects to spend $61.68 million, 23.4 per cent more than the fiscal '81 provision, with more than 80 per cent of the total set aside for recurrent expenditure. The increased rate of growth under 18 per cent previously is largely for three new160 words
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Article298 1982-03-06 7 Communications THE VITAL role played by communications is reflected in an increase of more Hun 30 per cent in that sector's spending power. It gom up by 586.49 million to <372 million, confirming the ministry's position as one of the country's big spenders. Recurrent expenditure is likely to298 words
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Article131 1982-03-06 7 SPENDING by the Health MaWry m developments wfll (all by a hefty Sftr mat ia tke earning year, mainly beeaaae aaft aajN haapital prajecta are ia tke eampletlea ltat la aae reaaaa why the ministry's total apeaflag la expected to lacrease by saly li per eeat milttaa, eampared with131 words
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Article, Illustration552 1982-03-06 7 Education FOR EVERY dollar spent on education in the coming year, 75 cents will go to primary, secondary and junior college sectors, 15 cents (or higher education at university level and the residual 10 cents for technical and vocational training. That is the kind of easy-to-read breakdownBT CHART BY - 552 words
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Article, Illustration4169 1982-03-06 8 EXTRACTS FROM DR TONY TAN'S SPEECH AFTER REVIEWING last year's performance and the general state of the econbmy, Dr Tony Tan said the objectives of the Budget are to: Increase the supply of skilled, technical and professional manpower needed to facilitate the restructuring and4,169 words
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497 1982-03-06 8 BARRY VOLPERT - By BARRY VOLPERT IT WAS bet outside, ud the crowd ef reporters ud eirlNt onio«ker« wu uzlmi to eater the «IfwdWued PirUumt Once they get inside, however, It wm hard fer them te tell that it wm Bidget Jtey the meet important day ef497 words
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Page 5 Advertisements
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Advertisement238 1982-03-06 5 «»5 vm Philips ILLUSTRATED <■< r- < r* W.\ KVVAS I«■'.<•»•«» W..1, ATLAS THE WORLD What makes PHILIPS' ILL USTRA TED A TLAS OF THE WORLD the most comprehensive, accurate and modern atlas now available? PHILIPS' ILLUSTRATED ATLAS combines maps, illustrations and text in a reference book that is visually238 words
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Page 6 Miscellaneous
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Miscellaneous637 1982-03-06 6 I 1 -11-OSE CROSSWORD CRYPTIC PUZZLE ACROSS With which most disagree (6) Just for fun, mad Ivan takes Carl out (8) So, Sir, I became a god Name of one going back to church (5) A word of sympathy for the needy (4) Letter to Dan from a singer (4)637 words
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Miscellaneous754 1982-03-06 6 Man's vainglorious actions A MAJOR Mi aa ex-army captala elsafe with each ather thla aft eras sa la Mr Ride Te Ohry at Lltpn ea Chaaael S. TVe ex-army eaptala prevents the big*ted Thaagh this is a repeat shew, It's wsrth watchlag, especially whea yaa eaa eateh Elisabeth Taylsr, Baeh754 words
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Page 7 Advertisements
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Advertisement179 1982-03-06 7 What happens when you give your child only plain rice? You know that he will find it unpalatable and its not nutritional enough for proper growth. And so it is with the intellectual growth of your child. The school textbooks are like plain rice. Your child needs more than that179 words
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Page 7 Miscellaneous
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Miscellaneous18 1982-03-06 7 Eristow: Runooß IT TmpvT KGGjnrld HftS RjT IN e>\D FoR revues RVJDGC dd ifegMug SMgcup iNpeeP vou eß...um.18 words
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RAW MATERIALS
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Article783 1982-03-06 9 COFFEE: Robusta futures yesterday were steadier at midday with prices between £21 and £3 a tonne up on Thursday's close in traded positions. Dealers said the late morning saw some solid buying from trade houses and speculators following initial substantial commission house buying which had taken most positions783 words
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Article131 1982-03-06 9 THE Kuala Lumpur crude palm oil market yesterday tended mixed in moderately active trading, dealers said. In March south dropped M 52.50 to $970 a tonne, north was unchanged at $967.50 and central traded at $965. South region in April gained $4.50 to $960 while central fell $4.50131 words
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Article229 1982-03-06 9 RUBBER prices in Singapore yesterday closed slightly higher with March One RSS buyers quoted at 177.50 cents per kilo, up three cents from Thursday's close. Morning prices were marked up slightly on some forward demand after easing marginally on lack of follow-through buying support. Prices gained further ground in229 words
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Article309 1982-03-06 9 RAS price* In cents per kilo yesterday: Noon (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 177.00 178.0QN Int. 1 R.S.S Marco 178.00 178.50 Int. 1 R.S.S. April 178.50 179.00 Int. 2 R.S.S lOt JO 107 JON UK/Coot 165 50 166.50N bit. 3 R.S.S 142.00 164.00N UK/Coot309 words
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Article69 1982-03-06 9 THE STRAITS tin price la Peaaag yesterday climbed eight ceata to M $31.21 a Idle, still la the ITC lewer sector ef 929.1$ aad $3ZM. The higher tread was attributed to eeattaaed withholding ef the metal by miners aad majer purchases by the buffer stock manager. Seme sappert69 words
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Article34 1982-03-06 9 Rubber: Mar 5 Singapore: March: 177.50 cents (up 3.00 cents) Malaysia: March: 200.00 cents (up 3.00 centa) Tin: M 530.29 per kilo (up 8 cents) Official offering: 163 tonnes (down 12 tonnes)34 words
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111 1982-03-06 9 Reuter SUBSTANTIAL support from both rubber producers and the International Natural Rubber Organisation is needed this year to lift depressed rubber prices, the London-based commodity broker Rudolf Wolff said in London on Thursday. Writing in their latest review, the, brokers said they were discouraged byReuter - 111 words
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Article345 1982-03-06 9 Reuter SILVER PRICES fell to their lowest level since August 1979 during first ring London Metal Exchange dealings on Thursday morning when Three Months delivery traded down to 424 pence per troy ounce. Dealers cited general lack of investment interest in precious metals, highlightedReuter - 345 words
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Article417 1982-03-06 9 THE recurring shortage of crude palm oil experienced by domestic refiners has been brought about by a mixture of over-enthusiasm on the part of investors in the industry, approval of a large number of manufacturing licences by Mida and the rising demand (or palm oil products417 words
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Article259 1982-03-06 9 LEVELS fell back five cents overall in quiet trading to reverse last week's recovery of current One RSS, H«Uiay, Catler, Bath ai4 Campaay said in its review of the rubber market for the week ended March 4. Stale bull and trade hedge releases of the maturing March259 words
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1187 1982-03-06 9 NEW YORK STOCKS STOCKS IN New York on Thursday closed lower ova- a broad front, amid growing qpncern about the outlook for the economy. High technology shares were among the biggest losers, hit by heavy liquidation following a lower earnings projection by Data1,187 words
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Article114 1982-03-06 9 NOON SSI ft and SMR priem; yesterday &AS Mere* April (Carreal Buyers 6 iMtk) teller* (Forward Mill > Beyer* Sellers SSR 20 (1 too pallet t> 184 00 1M.00N 164.00 *****N SSR50 (1-MB pallet ;> ***** 163. OON 161 00 163 OON M1ILB Mank April SMRCV (1-ton114 words
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Article208 1982-03-06 9 SOYBEAN futures in Chicago on Thursday closed mixed in light trade, up 2V4 US cents a bushel in nearbys to off 4V« cents in deferreds. Professional demand for May in afternoon trade, believed to be short-covering, sparked local short-covering and rallied nearbys to the plus side, traders said. Buy-stops208 words
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Article161 1982-03-06 9 WHEAT futures in Chicago on Thursday edged further off day's lows late, on mainly local short-covering in response to dried-up selling interest, traders said. Prices settled down Vi to IV* US cents a bushel. Lack of bullishly construed grain fundamentals, along with continued economic concerns, held prices on the161 words
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Article171 1982-03-06 9 CHINESE Prihet Eukiage, per 1M kg yesterday. Cteewt ail: Bulk fob (96.00 sellers, ok) drum (In second hand drum) fob $110.00 sellers, new drum fob (114.00 sellers. Csfra: Mixed (loose) $47.00 buyers. Pepper: Muntok white pepper fob Acts NLW $375.00 sellers, Sarawak white pepper faq fob NLW $370.00171 words
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Article196 1982-03-06 9 YARN and cotton prices were quoted as follows in Hongkong yesterday. (In HK dollars, spot «-godown) Csttsa yara: China Blue Phoenix 20s 2,440; 32s 3.150, 40s 3.215 (per hale of 400 lbs). Piece gssds: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly196 words
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Article323 1982-03-06 9 SINGAPORE: Yesterday's closing prices in S3 per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.20, 100 per cent second class 1.02, 100 per cent third class 1.00, 25 per cent new crop no stock, B-10 per cent no stock. THAI BROKEN: A-super 0.70, Special323 words
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ASIAN STOCKS
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Article117 1982-03-06 9 SHARE prices in Bangkok yesterday closed mostly lower or steady in dull trading, dealers said. The Book Club index dropped 0.36 point to 93.07 on a turnover of 4.0 million baht. Bangkok Bank fell two baht to 206, Siam Cement dropped one to 153 while117 words
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Article84 1982-03-06 9 MAR 06 Acoft Mtnuif NM ma tun AUaj Coo A AUil Oon. R BafUio OoU Benfuet Coo B BP Oontrtcb CDCP u JOM M 1.00 -14 *000(8 -1.1 ■u -04 Lepanlo B Hwlnduqut B Oriental a Oriental B Phil Oman Phitai A Phliei B Pioneer PLOT Podco B Po«*l84 words
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Article52 1982-03-06 9 FINANCIAL TIMES INDUSTRIALS Thursday 866.7 Wednesday 566.2 Week Ago 561.8 DOW JONES AVERAGE INDUSTRIALS Thursday 807.56 Wednesday 815.16 Week Ago 825.82 H.K.HANG SENG Friday 1158 82 Thursday *****8 Week Ago *****0 AUSTRALIAN INDUSTRIALS Friday 821.7 Thursday 827.3 Week Ago 635.2 ALL ORDINARIES Friday 464 9 Thursday 472.7 Week52 words
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Article296 1982-03-06 9 HONGKONG STOCKS IN Hongkong yesterday closed higher on pared gains with prices trimmed by late profit-taking, reflecting investors' lack of confidence in the market, brokers said. The Hang Seng index closed up 18.34 points at 1,158.92 against a 24.86 gain at the morning close. Most leaders finished296 words
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Article289 1982-03-06 9 SELLING of leading stocks in Sydney yesterday continued, particularly resource issues, amid expectations of Opec oil price falls and lower gold values. The All-Ordinaries index was down 8.1 points at 464.9 making a decline for the week of 26.1. Industrials eased 5.6 points to 621.7 while289 words
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Article400 1982-03-06 9 SHARE prices in Tokyo yesterday fell sharply with sentiment overshadowed by growing tension over Japan, US trade, deteriorating earnings prospects of Japanese companies and the Wall Street overnight fall, dealers said. The market average lost 69.28 points to end at 7,285.54, its lowest since Oct 27,400 words
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INTERNATIONAL STOCKS
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EUROPEAN MARKETS
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Article159 1982-03-06 10 MAR M rU ABM mia +17 Ahotd 71« 4.4 AtaO BJO ♦OJ AMBV BJO unch Aoafa» 70.00 -01 Amrobn* 48J0 +oj Berfom Bar! BJO +0J Bota aUH uncb BonumlJ 91 JO -1 Burtunann 39.00 -1 Caland 34.70 -44 Calva CM It »40 -0.8 D»ll MU 75.70 +1.1 Ennla lOOJO159 words
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Article246 1982-03-06 10 MAR 04 Pn CORBEILLE Alr-Uqulds 407 B 8 N Onnli DUMMM IM C 8 P (ThomsonC*f\ rm -13 -10 -T CM PrancaMa da* Patrotas 130 -U Compacntc Ptnanctarc Oompagnte OtMfftU 40X30 13 Cradli Pone tar Dc Franc* 300 -4 Hachauc (UDralrM) Marhtntt Bull MO 3179 -t •1.40 MleJMUn (B)246 words
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Article88 1982-03-06 10 MAR 04 m 4-/-FORWARD MARKET Acoc -i as -13 Arbad A«bir ism 41# -46 -|Q Braaemn Bru-Lunb m 1906 -14 -36 finrnf Cock 1313 10 D* Bwri BbM 3M 1030 -0 BoctroCxi 4100 OD Qb-Inno-Bm ZMO Or* 1300 •130 Hobo* 3336 •36 4646 4-40 Ryl Dutch 1404 40 Stdro88 words
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Article173 1982-03-06 10 MAR M Dm Aag-TtlafunJ AJtao Alls Utaa Alii Van IA8T k»n MAO >10 1MA00 Ml AO uuo unci) +11 -At 1J MM moo +0J llkJO OJ aw -u 117 JO *Xi mm «jjo 141 JO 1J S1J0 +0.1 irrjo 197 JO 4 1S0DB Dautacha Bank JTOJO Dradrxr Bank 140173 words
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Article126 1982-03-06 10 MAR 04 PTmnca Aetlooa awnM SO uneh AJ iritwa Br 510 -B Brown Bow?" Wr MM -5 S5? g*p 25? o*u p c rs S5it°2s."x—a C»41l Bill— Rk SB -1 IMInntt Br. £tx -a Oaorf* Ptaehcr Br 400 Qtofcn» Pe S1W Hwofc. Sir» unch Horrsum La ««to. im mm126 words
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Article81 1982-03-06 10 MAR M ur, goto»» MT.n +M» •o mm CratrmJ* CM «300 -I* Cood Acqt* Ron,. niM nn Ort isBxt M Ointiill ifltOBO -MO Ol® ttn .iM w Prt? -Aft s, irn -u ft* M -1LM Mxiwmil ***** Mltao AM Ort 1MH -Mi Mooaadori Pm «So -mo MnaliiWwn 141 7«81 words
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Article108 1982-03-06 10 SufjHHpi S n—■ Dm T«r 1 Dm* IIIOM 13* r p Ucoabrtdc* 1 WcoBbrMf* Cap m+ -i KMW l»* Ot Wart Uft 1 Ot YaUow Kate 1 Oatf OU Ou I OH IIOCB 1 II* H lam* OU D« 16 il mtrti U Bp ou j Int Pro* Pip*108 words
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Article255 1982-03-06 10 MAR M Rand INDUSTRIALS A Alpfta Abarcoo AS And CI M m m -u ttfxh -15 AMIC Bvkm Mk 1000 ■4 A D Currlt ruianc Dt D»«n lad Ueoa tdan a -M 1060 unch Tmmh r»d vou -15 ru»«t Oarditn OkananJ nun Hippo Htraid HuMM Ubarty Loorbo LTA M255 words
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Page 10 Advertisements
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Advertisement245 1982-03-06 10 "The American Express Card serves you well, wherever good food is served". for your warm patronage during our 10th Anniversary celebrations. Because of its wide popularity and appeal, our Nonya Buffet Luncheon will now be offered as daily fare. The true Singapore flavour— only $10* Our popular Nonya Buffet Luncheon245 words
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Advertisement84 1982-03-06 10 4= rh fitCUw mmMMimiJj 4 J horsushi. For teppanyaki. For other authentically Japanese delights. I'/'l'' < I 1■ 'I' >'/>", ■><)/>". 10 ,U> i> > ri < >r r» 'scrratu »is ca!l.7:mh77 < «'iiiur\ I'• ii'k S|ii>i':iluii Sili| M n*<■ offers JAZZ BRUNCH onsundays 10.30 am. -3 p.m. $21 per84 words
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Advertisement171 1982-03-06 10 See Page 9 for New York prices and Asian stocks mm: Continents KISIA I K A N I Before you fly away to foreign lands, cheek-in your bags then seek out the Five Continents Restaurant. Relax in intimate surroundings and wine and dine on the most superb international cuisine you've171 words
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Advertisement180 1982-03-06 10 When you dine, dine Cantonese. i m 0 If pleasing your palate is achieved only by eating the best, then dine Cantonese at The Inn of Happiness for the best Cantonese cuisine outside Canton. And a standard of service that's exquisitely Hilton. So come. The stage is set for an180 words
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Advertisement144 1982-03-06 10 ->.«• t V Mr Crab, Mr Lobster It Mite Fish have movM to our naw and convaniant location at Lower Ground Floor (Panang Road) with affect from Ist March 1962 A tasty naw menu; and comfortable new surroundings and ot coursa. tha usual pampering sarvica. awaits you. Siamese Seafood Restaurant144 words
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1497 1982-03-06 11 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. BECTION ONE INDUSTRIAL COMMERCIAL Ac®a (1528 2.535)1,497 words
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Article172 1982-03-06 11 8DHGAP0U UNirnUR vfsssr— The Savtnfi Fund l.O ITUd S pore Prof Fund IJ2 1J8 S pore Sac. Fund 1.J0 2.00 S pore Invest Fund lffl 1.08 S'pore Equity Find LIT L» DIAMOND MOT STOBB (Mianin' priaaa tar Mar 1A1) Ptinv«4 S'pore Fd (USS) 0 74 0 78 SI172 words
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Article2834 1982-03-06 11 1081/1982 High Low Coaipaay Last Sale orGr'» Div DW C TT Gr". YTd Net P/E Vol (•000) Day High Low SECTION ONE INDUSTRIAL ft COMMERCIAL 494 115 360 312 420 200 470 532* 875 430 248 115 130 150 308 75 360 213 322 231 Acma Alcom2,834 words
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Article1654 1982-03-06 11 BID and offer prices officially I listed and business in and re- ported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. MDUmiAU •J* (150B) Ataa (1.258 IJ7S) (I) 125 (1) 1*1,654 words
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Article175 1982-03-06 11 YEO Blip Stag (Malayan) Berfcad: Eighth AGM to be held at Suhang View Hotel, Melatl 4, Mezzanine Floor, Jalan SS12 1, Subang Jaya, Selangor on March 9 at noon. LOYTAPE Berhad: Tenth AGM to be held at Penthouse, 10th Floor, Wisma Central, Jalan Am pang, Kuala Lumpur on175 words
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710 1982-03-06 11 SHAKE prim elsaed as a adzed eete at lhe mafspau steeh market yesterday after a tower epealag. The recovery begaa after the 11 am hreak wbea newi wa« received here that the Hoagkeag market had reTke Haag Seag ladex, which feU darlag the last710 words
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Article592 1982-03-06 11 THE KUALA Lumpur stock market finished mixed with an easier bias yesterday after four straight sessions of losses. Despite the increased turnover yesterday, the volume of trading still remained low. And this tends to confirm views among observers that the bear trend stemmed largely from592 words
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Chief Price Changes
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Article141 1982-03-06 12 Rises Indices Olympia M Banking Textile Corp Hong Fok St Sttuibip City Dev M U I Promet Hong Leong lad Utd Plantation* Semb Shipyard Falls O U E Berjuntai M B F Hid*. Cold Storage Spore Land C Sugar* OCBC Ialaad Pea Keek Seag 155 550 210 289 478141 words
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Article, Illustration156 1982-03-06 12 SHARE prices closed mixed on the Stock Exchange of Singapore yesterday after a minor rally partially arrested the morning's fall. lie Straits Times Industrial Index eased 4.48 points to dose at 712.22 while the Business Times Indicator of the day's It most active stocks lost 18* points to156 words
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Article314 1982-03-06 12 SHAH Alam Properties Sdn Bhd (SAP), a subsidiary of the state investment arm Kumpulan Perangsang Selangor, has been appointed developer of the state capital's commercial zone. SAP has already been awarded the contract to develop the state capital's civic centre. Development costs for both projects314 words
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Article148 1982-03-06 12 ANOTHER lieil merchant bask, Temenggong Merchant Bankers Ltd (TMB), is seen to deal in Asian currency unite (ACUs). The merchant bank has applied to the Monetary Authority of Singapore for an ACU licence in a bid to expand further Its regional business. This was148 words
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Article, Illustration611 1982-03-06 12 ALAN LEE - By ALAN LEE AS EXPECTED, the Hong Leong group has hived off Hume Industries (Far East) Ltd's controlling stake in Hume Industries (Malaysia) Bhd to its Malaysian investment holding company. The latest development, however, contained a few surprises. For example, instead of611 words
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420 1982-03-06 12 CHOO AI LENG. THE GOODWOOD group, owner of the largest chain of hotels in Singapore, has again turned in favourable results for its financial year just ended. Clearly benefitting from higher room rates and a strong demand for hotel rooms, Goodwood was ableCHOO AI LENG. - 420 words
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Article862 1982-03-06 12 LONDON, Thurs. Equities were mixed but government bonds firmed and trading in both sectors was quiet ahead of next Tuesday's UK Budget. The Financial Times Index was up 1.5 points at 556.70. Government bonds were again buoyed by the resilience of sterling and selected longer dates ended V«862 words
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Article236 1982-03-06 12 SOUTH Pacific Textile ladastrtes (SPTI) has been queried by the Kuala Lumpur Stock Exchange on its purchase of 1.47 million minority shares from Bandartex and the sale of its land to its subsidiary, SPTI Properties. South Pacific is to inform the consideration for the purchase of Bandartex, the236 words
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427 1982-03-06 12 YEO Hiap Seng Ltd has refrained from maiHng any profit forecast for the current year. It has merely indicated that earnings will be "enhanced" compared with 1981. Local stock broking firm Ong and Company, however, had earlier forecast 1982 pre-tax earnings of427 words
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Page 12 Advertisements
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Advertisement371 1982-03-06 12 f M THE MATTER OF THE COMPANIES ACT, CAP. ISS PURSUANT TO SECTION 254 KB INVESTMENTS CORPN. (PTE) LTD. r the members of KB NVESTMENTS CORPN (PTE) LTD duly convened andheld at Units 772A-776A. Block 80 sth Morch 1982 the Spedai R*W tion set out below was duly passed:"That the371 words
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Advertisement289 1982-03-06 12 Worldwide management experience at your fingertips. World \SS^ e Executive's r.vA Digest Styles of Managing I. Five Basic Styles and their Uses Michigan Business 11. Matching Styles to Situation "Situation Management" 111. The People Interface "Techniques of Leadership IV. Can a Leopard Change His Spots? :'Managing with Style" Golf: a289 words
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Page 12 Miscellaneous
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Miscellaneous62 1982-03-06 12 OUTLOOK for Singapore today: Fair in the morning. Thundery showers in several places in the afternoon. R*p#rt for U hNn prter to 7JI pm m March 5 at the alrptrt: Maximum temperature 32.0 Associated humidity $1 Minimum temperature 24.9 Associated humidity 93 Hours of sunshine .!!!!!""".6.35 Rainfall in millimetres Nu62 words
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